Supply chains seemed to have met their match during the global pandemic but have shifted their capabilities to continue meeting demands and schedules. The tenacity of supply chains during this time has caused the future of third-party logistics providers, or 3PLs, to rethink their logistics tactics and make more calculated decisions.
3PL providers are moving into a future where they are going to have more complex networks, requiring better tools to improve their work and efficiency. Learn what the future holds for 3PLs below.
It is projected that shippers and 3PL providers will be moving towards a strategic partnership rather than a transactional one. In a study supported by Infosys Consulting, Penn State University, and Penske Logistics, a majority of shippers and 3PL provider respondents noted that they agree to recognize inconsistencies and adjust to improve supply chain proficiency. Over the next five years, shippers anticipate that strategic partnerships with their 3PL will increase.
In the same study, it was reported that supply chains across the globe faced issues related to the global pandemic. Despite that, 88% of shippers and 99% of 3PL providers confirmed that third-party logistics has helped their services improve. However, over half of 3PL users revealed that they reduced their supply chain operations, and a small percentage reported that they were forced into a complete shutdown.
With expectations high, shippers are keeping a close eye on both logistics and supply chain providers. Shippers who use dashboards and analytics tools for real-time data access have heightened the need for technology adoption within 3PLs. Not all shippers get their data at hand. A little less than half of the shippers who responded said they have systems in place to collect and organize data for reporting. In any case, the adoption of new technology improves service and increases efficiency for 3PLs.
Looking for effective specialty transportation services that are responsibly priced, timely, efficient, damage-free, and in conformity with the highest industry standards? Pyramid Logistics utilizes cutting-edge technology to provide your team with the warehousing capabilities of the future.
Located in Los Angeles, California and Las Vegas, Nevada, we are equipped to handle a full range of services near our facilities and all over the nation. As the industry continues to go digital, Pyramid Logistics remains at the forefront of warehousing. If you’d like to learn more about partnering with us, click here.